This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Brazil has revised its rules for setting the reference price for crude oil produced in the country in a bid to boost government revenues from royalties paid by oil companies operating in Brazil. Oil companies operating in Brazil have not exactly celebrated the changes, which will affect how tax and…
The Association of the Petroleum Industry of Kurdistan (APIKUR) has welcomed it described as renewed and intensified negotiations between the Kurdistan Regional Government (KRG) and the Government of Iraq (GoI) aimed at resuming oil exports via the Iraq-Türkiye Pipeline (ITP).
This ancient oil field is widely regarded as the location of the first mechanically drilled oil well in the world, predating Drake’s well by several years. The 1846 Breakthrough: Bibi Heybat Well In 1846, long before the American oil boom, the world’s first mechanically drilled oil well was completed at Bibi Heybat, just south of Baku.
Pro Forma Mach Pro forma Mach will operate across three distinct regions – the Mid-Continent, Permian and San Juan basins. Key Highlights Attractively Priced and Immediately Accretive to Cash Available for Distribution $1.3 Key Highlights Attractively Priced and Immediately Accretive to Cash Available for Distribution $1.3
in Mechanical Engineering from the University of Alberta and has held previously roles at Sanjel Corporation, Zodiac Exploration, and Pinnacle Technologies, specializing in hydraulic fracturing in unconventional reservoirs. from 2018-2022, a provider of integrated specialty industrial services with operations in over 20 countries.
An expansion of the EU ETS that covers buildings and road transport emissions is expected to be fully operational by 2027. To remain competitive in this new context, companies are investing in decarbonizing their operations. In the PNIEC, the government reported that 67.9 Mtpa, COD 2022). 2 Comparing â¬39/ton in a 0.6
Today, it is an area ripe with innovation, driven by stricter environmental regulations, the demand for unprecedented operational efficiency, and the rise of new and unconventional gas sources. This data is fed back to a central control room, often miles away, allowing operators to monitor performance remotely.
The increasingly fine-grained view into decarbonization allows companies or governments to identify potentially easy-to-adopt wins and even money-saving opportunities that can add up. Over the past few years, NBS have been increasingly incorporated into policy frameworks and financial mechanisms.
Image by Toa55 via iStock Vallourec said it has secured a large contract to supply oil country tubular goods (OCTG) for drilling operations in Qatar, representing over $50 million in potential revenue. Vallourec Group Chairman and CEO Philippe Guillemot said, “Vallourec has been a reliable supplier to operators in Qatar for decades.
(Oil Price) – Brazil has revised its rules for setting the reference price for crude oil produced in the country in a bid to boost government revenues from royalties paid by oil companies operating in Brazil. Last month, Bloomberg reported that Brazil’s government is looking to extract some $6.2 billion to date.
The initial reaction sent crude prices higher, but they later eased as traders assessed when and how these sanction mechanisms would actually be enforced. year-on-year in the second quarter of 2025, slightly above market expectations of 5.1%, supported by resilient exports and government stimulus. higher YoY.
But it contained only 403 million barrels of crude oil as of July 4, according to government data, which is far below the record level of 727 million barrels reached in 2010. The American SPR is the world’s largest emergency oil storage, able to hold 714 million barrels, or the equivalent of 35 days of U.S. oil consumption, when full.
It also grants it broad powers to develop sector strategies, regulate mineral exploration and exploitation operations, localize mining industries, and promote transparency and attract investments. This law acts as a qualitative leap in the development of the Egyptian mining sector, following integrated efforts.
Agents supercharge operational agility and create new revenue opportunities. That requires an architecture that is modular and resilient and, more importantly, an operating model that centers on humansânot just as users but as co-architects of the systems they will be living and working with. What accounts for this imbalance?
Indias Coal Ministry is proposing to establish a coal trading exchange as domestic coal production jumps with the government push for higher output and sector reforms allowing private firms to operate mines. The surge in domestic coal supply would change the existing mechanisms
Kazakhstan, the largest over-producer in recent months, may be forced to make additional withdrawals from its oil fund by the fall to cover planned government spending amid lower prices, Halyk Financesaidin a research note. billion expansion of the Chevron-led Tengiz oil field is due to become fully operational this quarter.
Operators may now have the potential to sell carbon credits in exchange for the P&A of inactive, shut-in, or temporarily abandoned wells. Although Louisiana is allocating significant funds to P&A orphan wells, there is a lack of financial incentive for operators to address AOOG wells. Additionality.
Key points are as below: Annual Adjustment of retail electricity price: All-round factoring (generation, transmission, distribution, system operation, and market transaction management).
The “ LL&E II ” decision finds that Act 312 charges the court, not the jury, to determine the funding needed to remediate property to government standards. If (and only if) an express contractual provision allows greater remediation than government standards, a jury may consider and award such “excess remediation” damages.
First, Interior issued a Final Rule, which reassigns the responsibilities for certain regulations governing offshore wind from BOEM to BSEE. The regulations transferred to BSEE include those governing the oversight of facility design, fabrication, and installation.
The majority of the population cannot afford housing without the help of financial mechanisms. Seeking EEM’s is a good way to maximize income while reducing operational costs for businesses. The evolution of the industry has seen a commensurate rise in the cost of home ownership. This need led to the birth of the mortgage.
Badawi said that the meeting reinforces the ministries’ joint efforts and demonstrates the government’s keenness on executing projects with significant economic and environmental value. It should include technical, economic, and operational aspects, and be approved by the concerned authorities.
Last year, in another dispute over who should bear the cost of decommissioning offshore facilities, the Southern District of Texas held that a former sub-assignee of offshore operating rights was entitled to equitable subrogation from the record title owner and initial assignor. Sojitz Energy Venture, Inc. Union Oil Co. of California , 394 F.
In Europe, the EUs Carbon Border Adjustment Mechanism (CBAM) and Corporate Sustainability Reporting Directive (CSRD) are two significant regulatory frameworks aimed at addressing environmental sustainability and making sure of transparency in corporate reporting. This mechanism covers sectors with high carbon emissions.
Governments are strengthening their support for charging infrastructure, and a healthy mix of private and public chargers is emerging. AMPECO, a global EV charging management solution provider , is on a mission to empower large-scale charge point operators (CPOs) to deliver a seamless and efficient charging experience to drivers worldwide.
The “ LL&E II ” decision finds that Act 312 charges the court, not the jury, to determine the funding needed to remediate property to government standards. If (and only if) an express contractual provision requires greater remediation than government standards, a jury may consider and award such “excess remediation” damages.
In the recent ruling, the Third Circuit held that it was reasonable for EPA to interpret Section 126(b) to be an “independent mechanism for enforcing interstate pollution control,” thereby giving EPA authority to directly regulate a specific source in an upwind state.
Introduction Oil and Gas companies operate in a complex global environment that requires them to balance energy demand with a lower carbon footprint. In building this data lake, the team identified the necessary data sources and created a generic ingest mechanism to handle the existing and new data sources.
Our comprehensive guide explores why blockchain technology has become essential for modern renewable energy platforms, examining its role in enhancing security, reducing costs, and streamlining operations. Blockchain addresses these issues by providing a secure, transparent foundation for modern utility operations.
My degree cemented my love of engineering, so I completed a PhD in mechanical engineering at the University of Technology of Compigne (France). Its also enabling the continued development of new digital products to improve safety and operations across the sector. I was one of two girls in a class of 20 students.
The Supreme Court’s revisions to Rule 1 obligate the court and the parties to employ the Rules of Civil Procedure to secure the just, speedy, and inexpensive determination of every action, stating: These rules govern the procedure in all civil actions and proceedings in the United States district courts, except as stated in Rule 81.
Contract salvage is when the shipowner and the salvor agree in advance to the terms governing the salvage operation, including the compensation that will be paid to the salvor. Pure salvage is when there is no contract between the parties prior to the salvage operation.
Coping mechanisms for PQCFS: Steps for managing tech intolerance Years ago, it was easy to say, Executives are tech intolerant, or that IT workers just dont know our business. To me, tech tolerance means organizations developing processes that make their operations safe for tech – and humans – to thrive.
Subscribe now The oil industry, just like any other extractive industry, is capital intensive with its costs mostly being sunk cost, while the operating cost is relatively small. During a period of an economic downturn and very low oil prices, producers focus on the operating cost. They continue to produce despite the hefty losses.
This would be an increasingly relevant mechanism over the course of months or years (depending on the product), which we have generally not simulated. Of course, governments themselves may also shift the trade landscape over time. In addition, our modeling here does not consider a range of important effects: New sources of production.
The Federal Ministry of Oil has confirmed the completion of procedures for resuming the export of oil produced in the Kurdistan Region through Ceyhan Port (pictured), in accordance with the mechanisms outlined in the Budget Law and its amendments and within Iraq's OPEC production quota.
to allow them to at least return to the type of license they had between 2020 and 2022, which prevented them from expanding operations in Venezuela or exporting oil, but allowed them to preserve their stakes, offices and a minimum presence in the South American nation, the sources said. Several oil companies are now requesting the U.S.
The survey targeted a diverse mix of C-suite executives across both technical and non-technical roles, ensuring a comprehensive understanding of how technology investments are shaping operations, decision-making, and strategic priorities in asset management.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content